Masters Of War

Come you masters of war You that build all the guns You that build the death planes You that build all the bombs You that hide behind walls You that hide behind desks I just want you to know I can see through your masks. You that never done nothin' But build to destroy You play with my world Like it's your little toy You put a gun in my hand And you hide from my eyes And you turn and run farther When the fast bullets fly. Like Judas of old You lie and deceive A world war can be won You want me to believe But I see through your eyes And I see through your brain Like I see through the water That runs down my drain. You fasten all the triggers For the others to fire Then you set back and watch When the death count gets higher You hide in your mansion' As young people's blood Flows out of their bodies And is buried in the mud. You've thrown the worst fear That can ever be hurled Fear to bring children Into the world For threatening my baby Unborn and unnamed You ain't worth the blood That runs in your veins. How much do I know To talk out of turn You might say that I'm young You might say I'm unlearned But there's one thing I know Though I'm younger than you That even Jesus would never Forgive what you do. Let me ask you one question Is your money that good Will it buy you forgiveness Do you think that it could I think you will find When your death takes its toll All the money you made Will never buy back your soul. And I hope that you die And your death'll come soon I will follow your casket In the pale afternoon And I'll watch while you're lowered Down to your deathbed And I'll stand over your grave 'Til I'm sure that you're dead.------- Bob Dylan 1963

in keeping with the trend we've seen over the past several weeks, unconventional drillers idled rigs, while conventional drillers added them…two additional vertical drilling rigs were added to bring that total to 123, while.there were 650 horizontal rigs in use at week end, down 4 from a week ago and down 693 from the same week last year, and 84 directional rigs remaining, also down 4 from a week ago and down 133 from the 217 directional rigs running on the 3rd Friday of July last year...

within the major shale basins, the Eagle Ford saw a net reduction of 4 rigs, leaving 98; the Marcellus saw 3 idled, leaving 59, while the Williston count dropped by 2 to 69...there were also rig reductions in all the Woodford shales, which hadn't seen many prior cuts; the Ardmore Woodford was down 2 to 5, the Cana Woodford was down 2 to 31, and the Arkoma Woodford was down 1 to 5....the Haynesville shale also saw a rig idled, while Permian basin drillers added 3 rigs, 2 were added in the Granite Wash, and the Utica shale and Niobrara chalk both saw the addition of 1 rig each...by state, Louisiana, where three inland water rigs were shut down, saw the greatest reduction, while 2 rigs were pulled Texas, Pennsylvania and North Dakota, and California and Oklahoma each saw one rig idled...meanwhile, drillers in Alaska, Colorado, Kansas and New Mexico each added a rig, while the rig count in Ohio and other states not herein mentioned was unchanged

meanwhile, US crude oil production fell to 9,562,000 barrels per day in the week ending July 3rd, down from the near record 9,604,000 barrels per day the prior week, but still up 11.3% from our oil output of 8,592,000 barrels per day in the second week of July last year...however, with US refineries operating at 95.3% of their operable capacity and refinery inputs of crude averaging 16.825 million barrels per day during the week ending July 10th, 229,000 barrels per day more than the the prior week, our imports of crude oil rose to 7,354,000 barrels per day, from 7,316,000 in the previous week, 1% more than the 7,427,000 we imported in the same week last year...that's a volatile figure, however, as weekly oil imports are often dependent on how many super tankers arrive and are offloaded during any given week, so we check the weekly Petroleum Status Report (62 pp pdf) for the 4 week average, which at an average of over 7.2 million barrels per day, leaves our 4 week import total 1.3% below the same 4 week period last year...but also note that U.S. commercial crude inventories fell for the first time in three weeks, from 465,763,000 barrels last week to 461,417,000 as of July t0th, which was still 23.0% more oil than 375,040,000 barrels we had stored at the end of the second week of July last year, and in fact much higher than had ever been stored in mid July in the 80 years of EIA record keeping, which had never seen the 400 million barrel level breached before this year...

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